New Construction Permits Continue Upward Trend in March

New Construction Permits Continue Upward Trend in March

According to filings with Leon County and the City of Tallahassee, the number of single-family new construction permits were up 11.1% in March, 2023 when compared to March 2022.

There were 60 permits issued March 2023, up from the 54 issued one year ago. However, the value of the March 2023 permits was $11.5 million, down 32.4%, from the 17.0 million reported in March 2022.

The 3-Mnth Ave. data – which smooths out the month to month volatility – shows a 16.4% increase in the number of permits from one year ago. The 3-Mnth Ave. data also shows a 19.7%% decline in total permit value, from $12.7 million in 2022 to $10.2 million 2023.

The chart below shows the number of permits issued each month for the last 25-month period. A 3-Mnth Ave. line is also included. The chart shows that the upward in permits began in December, 2022.

7 Responses to "New Construction Permits Continue Upward Trend in March"

  1. Those with good credit have always paid for those with bad credit. When properties are foreclosed they’re resold to recoup part of the bank’s investment. Often times, the properties are so neglected and/or abused that you wouldn’t want to live in them. When the bank gets back 2/3 of the then-current debt, the difference is made up by the people that don’t default.

    The pResident’s plan to force qualified borrowers to directly subsidize sub-standard loans is just another way to push people down to the least common denominator.

    Sidebar — I bought a bank foreclosure back in 2000 for $40K less than what was owed ($220K). It was a mess and required updates and repairs that were about 2/3 my purchase price. This may not be the typical foreclosure-resale, but it’s not uncommon. Not too many people can see that mess and visualize what it can become.

  2. Will someone on either Commission please put a Price on what is considered an “Affordable” Home? Every time Affordable Housing comes up at the Meetings, they are usually talking about the Lower Class owning a Home but they never put a price on that Home, they DO use the word “Affordable” a lot though. Of course NOW, they are talking about those with Good Credit (680 and above) will now have to start paying for those with BAD Credit so THEY TOO can own a Home.

  3. A pile of warped 2×4’s, a stack of damp weaveboard, and a few buckets of stucco… all slapped together on a slab of inferior Chinese concrete on an 8th acre of brownfield for the low low price of $300-$500k… and with the scraps, they’ll slap up an “affordable” home or two to meet the density bonus requirement.

    They use to say “there’s one born everyday”… I’m thinking it’s a bit more than one these days.

  4. The average permit was for a $314,814 house during last year’s March period, $191,667 this year.

    That should tell you a lot!

  5. That number will go up drastically soon once they start building on that 740 Acre Plot between Blairstone, Paul Russell and Tram that the city recently approved. They have been Clear Cutting for it for several Months now.

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